KENT Kent Financial Services, Inc. (MM)

KENT FINANCIAL SERVICES, INC. (�Kent�) (NASDAQ: KENT) reported a net loss for the three months ended May 11, 2007 of $53,000 or $.02 per share, compared to a net loss of $165,000, or $.06 per share, for the comparable period in 2006. Kent has 2,792,326 shares outstanding. This release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Kent Financial Services cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date. Per share earnings reported in the text of the news release are fully diluted earnings per share. � KENT FINANCIAL SERVICES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2007 (in thousands, except per share data) (Unaudited) � Three Months Ended March 31, 2007 2006 Revenues: Seminar fees $ 107� $ 51� Interest 159� 141� Investing losses (16) Other income � 101� � 16� � Total revenues 367� 192� � Expenses: General and administrative � 427� � 400� � Loss before income taxes, minority interest and extraordinary item (60) (208) Provision for income taxes � 10� � 1� Loss before minority interest and extraordinary item (70) (209) Minority interest in subsidiaries losses � 17� � 34� � Loss before extraordinary item (53) (175) Extraordinary gain due to purchase of subsidiary stock � � 10� � Net loss (53) (165) � Other comprehensive loss: Unrealized loss on available for sale securities � (2) � � Comprehensive Loss � (55) � (165) � Basic and diluted net loss per common share: Loss per share before extraordinary item $ (0.02) $ (0.06) Extraordinary gain � -� � -� � Net loss per share $ (0.02) $ (0.06) � Weighted average number of common shares outstanding (in 000's) � 2,799� � 2,804� � CONDENSED CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 2007 (in thousands) (Unaudited) � ASSETS � Current Assets: Cash and cash equivalents $ 162� Short-term investments 12,772� Marketable securities 147� Other current assets � 117� � Total current assets 13,198� � Property and equipment, net 47� � Goodwill 90� � Other assets � 61� � Total assets $ 13,396� � � LIABILITIES AND STOCKHOLDERS� EQUITY � Current liabilities $ 349� Noncurrent liabilities 652� � Minority interest in subsidiaries 5,210� � Stockholders' equity � 7,185� � Total liabilities and stockholders' equity $ 13,396�